The Kingdom of Saudi Arabia is opening up its real estate market to non-Saudis from 2026 in a strategic move to strengthen the country’s attractiveness among expats, welcome foreign capital and double down on efforts to compete with Dubai, which is experiencing a real estate boom.
The move to allow expats to purchase homes in the Kingdom is part of a wider set of real estate reforms designed to innovate and stimulate growth in urban development and real estate sectors.
Add us as a preferred source to see more super-prime intelligence in Google.
The new law represents a key component in the Saudi government’s ‘Vision 2030’ which aims to increase diversification economically, socially, and culturally and position the country as a welcoming and forward-thinking place in which to work, do business in and live.
By loosening its conservative societal codes, transitioning away from historically restrictive regimes and injecting liberal doses of cultural, tourism, sporting and luxury real estate credentials, Saudi Arabia also hopes to compete with popular Middle East tourist hubs Dubai, Abu Dhabi and Doha.
The government’s rebranding efforts are clearly paying off. Saudi Arabia is one of the fastest growing global wealth magnets, projected to welcome more than 2,400 inbound millionaires in 2025, an eight-fold increase from last year, thanks to a surge of returning Saudi nationals and international appeal of increasingly cosmopolitan Riyadh and Jeddah.
It represents a pivotal shift in the Kingdom’s real estate, development, and investment landscape, luring international developers and investors to participate in its growing real estate sector, while also managing social and regulatory expectations.
The details of the new regulations are yet to be firmed up, but it is expected to come into effect from January 2026.allowing foreign investors – both individuals and companies – to acquire commercial and residential real estate in key locations.
Property ownership is expected to be permitted in designated geographical zones, particularly Riyadh and Jeddah, while special conditions apply to ownership in Makkah and Madinah.
Ownership of real estate in the two holy cities remains highly restricted.
Saudi Arabia is increasingly becoming a global player in innovating real estate, investing in and developing some of the world’s most architecturally innovative and boundary defying real estate.
Currently under construction is Jeddah Tower, which will be the world’s tallest skyscraper when complete, the futuristic metropolis of NEOM and the new AI-driven new megacity Khalid bin Sultan rising from the desert sands.
The Kingdom is also kindling its ultra-prime property sector with a growing number of new luxury hotels and resorts, gated communities and branded residences including the freshly opened Armani Residences in Riyadh’s lively luxury quarter Diriyah catering to growing demand among high-net-worth international investors.
